Brandywine Realty Trust Announces Full Exercise of Underwriters' Option to Purchase Additional Shares

RADNOR, Pa., July 30, 2014 /PRNewswire/ -- Brandywine Realty Trust (the "Company") (NYSE: BDN), the sole general partner of Brandywine Operating Partnership, L.P. (the "Operating Partnership"), announced today that the underwriters of its previously announced public offering of 19,000,000 common shares have fully exercised their option to purchase an additional 2,850,000 common shares from the Company.  As a result, the Company will issue a total of 21,850,000 shares in the offering.

The offering is expected to close on or about August 1, 2014, subject to customary closing conditions, and is expected to provide gross proceeds to the Company of approximately $340,860,000 before underwriting discounts and commissions and estimated offering expenses payable by us. The Company intends to contribute the net proceeds of this offering to the Operating Partnership in exchange for partnership units of the Operating Partnership.  The Operating Partnership intends to use the net proceeds from this offering for working capital, capital expenditures and other general corporate purposes, which may include acquisitions, developments and repayment, repurchase and refinancing of debt.

BofA Merrill Lynch and Citigroup are acting as the joint book-running managers for the offering.

The offering is being made pursuant to the Company's effective shelf registration statement filed with the Securities and Exchange Commission and a related prospectus and prospectus supplement.  A final prospectus supplement related to the offering is expected to be filed on July 30, 2014.  This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

Copies of the prospectus supplement and accompanying prospectus relating to these securities may be obtained (when they become available) by contacting BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attention: Prospectus Department, or by emailing [email protected] or Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone:  1-800-831-9146.  A copy of the prospectus supplement and accompanying prospectus may also be obtained (when available) without charge by visiting EDGAR on the SEC website at www.sec.gov.

About Brandywine Realty Trust

Brandywine Realty Trust is one of the largest, publicly traded, full-service, integrated real estate companies in the United States.  Organized as a real estate investment trust and operating in select markets, Brandywine owns, leases and manages an urban, town center and suburban office portfolio comprising 284 properties and 33.7 million square feet as of June 30, 2014.

Forward-Looking Statements

Certain statements in this release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, achievements or transactions of the Company and its affiliates or industry results to be materially different from any future results, performance, achievements or transactions expressed or implied by such forward-looking statements.  Such risks, uncertainties and other factors relate to, among others, the Company's ability to lease vacant space and to renew or relet space under expiring leases at expected levels, the potential loss of major tenants, interest rate levels, the availability and terms of debt and equity financing, competition with other real estate companies for tenants and acquisitions, risks of real estate acquisitions, dispositions and developments, including cost overruns and construction delays, unanticipated operating costs and the effects of general and local economic and real estate conditions.  Additional information or factors which could impact the Company and the forward-looking statements contained herein are included in the Company's filings with the Securities and Exchange Commission, including our Form 10-K for the year ended December 31, 2013.  The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.

SOURCE Brandywine Realty Trust